Blue Star Helium (ASX:BNL) announced financial results for the half-year ended June 30, 2022.

The principal activities of the Consolidated Entity during the half-year ended 30 June 2022 were helium exploration. The Company is headquartered in Australia and its strategy is to provide its shareholders with exposure to multiple high-value helium projects in North America.

The loss after tax for the half-year ended 30 June 2022 was $2,707,681 (2021: loss $1,131,844).

During the half year, the Company announce its focus in rapidly advancing further drill planning and permitting across its key prospects. This consisted of a mix of both exploratory water wells and helium wells.

On 25 February 2022, Blue Star advised that it had received COGCC approval for the Sammons Ranch Oil & Gas Development Plan (OGDP) submitted by Vecta Oil & Gas Ltd. The OGDP consisted of four wells proposed to be drilled in the Area of Mutual Interest (AMI) agreed between Blue Star (50%, non-operated interest), Prospero Oil and Gas LLC (Prospero) (25%, non-operated interest) and Vecta (25% operating interest).

Following the announcement the company?s share price rose 3.448%.